Portfolio: Pa. sheds 9,200 jobs in May

The U.S. Bureau of Labor Statistics released its state employment report, which saw Pennsylvania lose 9,200 jobs in May, while New Jersey added 14,300 and Delaware added 1,100.

Seasonally adjusted payroll employment in the three-state region rose 0.2 percent from April to May, while the U.S. as a while added 175,000 jobs, an increase of 0.1 percent.

From May 2012 to May 2013, total non-farm payroll employment grew in line with the nation in Delaware and New Jersey but has been virtually flat in Pennsylvania. The state’s biggest job losers during the 12-month period were governmental employment (2.2 percent), natural resources/mining (2.1) and information services (2.0).

Demolition to begin at fatal Philly collapse site

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PHILADELPHIA (AP) — A new contractor is preparing to begin demolition work at the site of a Philadelphia building collapse that killed six people.

Geppert Bros. says it’s in talks with the site’s owners about clearing away the remaining rubble at the downtown site of the June 5 collapse. A spokeswoman for the company, Mary Pat Geppert, says about three to four weeks of demolition work remain.

A message left with the company by The Associated Press was not immediately returned.

The collapse killed six people inside an adjacent thrift shop. A subcontractor has been charged with involuntary manslaughter after investigators say he was operating an excavator while high on drugs.

The city’s top prosecutor has convened a grand jury to investigate whether anyone else should face criminal charges.

West reps ring NYSE closing bell

Representatives from Exton-based West Pharmaceutical Services celebrated the company’s 90th anniversary by ringing the closing bell at the New York Stock Exchange on June 20.

“As we commemorate our company’s 90th year of serving healthcare markets, we look back with pride on the role West has played helping deliver drugs safely to patients around the world,” said Donald E. Morel, Jr., Ph.D., Chairman and CEO. “West has been listed on the New York Stock Exchange since 1980 and we are honored to participate in the closing ceremony.”

Roughly 100 million West components are used each day in homes, hospitals and other healthcare settings around the world. West recently completed construction on a new, state-of-the-art headquarters facility in Exton, has completed its second facility in China and is building its first facility in India. Established in 1923, West’s 2012 sales were $1.3 billion.

Turner says economy should continue to thrive

According to the latest position paper from Turner Investments, there are six reasons why the U.S. economy has remained resilient and is likely to continue growing, despite any challenges from other nations. Turner, an employee-owned investment firm based in Berwyn, publishes position papers quarterly that present the firm’s viewpoint on investment-related topics.

The most recent paper was written by Turner Chairman and Chief Investment Officer Bob Turner, who listed six reasons why he believes the U.S. economy can continue to withstand economic challenges: The U.S. continues to be home to the most innovative companies and technologies; the population continues to grow steadily, and demographics are favorable; the U.S. benefits from an established and consistent criminal justice system; after undergoing significant downsizing since the 1970s, the U.S. manufacturing industry has undergone a renaissance; the U.S. dominates the global media and entertainment market, which is lucrative, big and getting bigger, thanks to a world that’s increasingly connected; and the U.S., although not completely energy independent, should produce more of its own oil and natural gas in the coming decades to help bolster its economic standing.